Cresud SA - CRESY STOCK NEWS

Cresud S.A.C.I.F. y A. (NASDAQ: CRESY), a leading Argentine agricultural company, reported robust results for its Fiscal Year 2022, which ended on June 30, 2022. Highlights include a grain production of 800,000 tons across 254,000 hectares, adjusted EBITDA of ARS 47,739 million (up 10% from FY 2021), and a net gain of ARS 63,000 million, reversing the previous year's loss. The agricultural revenue reached ARS 64,408 million, while urban properties generated ARS 25,593 million. The firm is also actively repurchasing shares, with 99% of its ARS 1,000 million plan completed.

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) announced an extension to the expiration date for its exchange offer for existing notes. Originally set to expire on June 29, 2022, the new expiration date is July 6, 2022. The offer includes an exchange of USD 113.16 million of 6.50% Series No. 23 Notes due 2023 for 8.00% Series No. 38 Notes due 2026. As of June 28, 2022, approximately 65.84% of the existing notes, worth USD 74.51 million, were tendered.

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria has announced an exchange offer for its Series XXXVIII Notes to holders of the Series XXIII Notes, totaling USD 113,158,632. The new notes, not exceeding USD 82,605,801, will have a fixed interest rate of 8.00% per annum and mature on March 3, 2026. The offer, authorized by Argentina's Central Bank, is designed to refinance existing liabilities and does not involve cash proceeds for the company. The offer commenced on June 16, 2022 and expires on June 28, 2022.

Cresud reported a significant net profit of ARS 31,657 million for the nine-month period ending March 31, 2022, compared to a loss of ARS 14,318 million in the same period last year. Adjusted EBITDA rose to ARS 29,536 million, with agribusiness EBITDA up by 35.7% to ARS 18,276 million, driven by strong performance in grains and sugar cane. Revenue from agricultural business surged to ARS 38,045 million, while gross margins improved despite rising costs.

Cresud, an Argentine agricultural company, reported a net profit of ARS 38,030 million for the first half of FY 2022, up from a loss of ARS 4,924 million in FY 2021. This improvement is attributed to strong agricultural operating results and gains from fair value changes in investment properties. Adjusted EBITDA rose by 21.7% to ARS 15,829 million. Agricultural revenue increased to ARS 25,047 million, while urban properties revenue also grew. A merger involving subsidiaries is underway, affecting CRES's stake in IRSA.

Cresud S.A.C.I.F. y A. (NASDAQ: CRESY), an Argentine agricultural leader, reported a net result of ARS 2,838 million for Q1 FY 2022, a significant decline from ARS 11,476 million in Q1 FY 2021. Adjusted EBITDA fell by 31.5% to ARS 5,381 million, largely due to urban business performance, despite stable agribusiness segment earnings of ARS 3,593 million. The company aims to plant 262,000 hectares amidst rising costs but higher international commodity prices. Notably, two farm sales by subsidiary Brasilagro totalled BRL 719.1 million.

Cresud announced its fiscal year 2021 results, ending June 30, 2021. The agricultural segment showed strong performance with a record production of 844,000 tons from 260,000 hectares. Adjusted EBITDA for this segment reached ARS 13,613 million, a 33% increase from the previous year. However, the company reported a net loss of ARS 24,503 million due to tax changes and discontinued operations. The urban properties segment saw a 55% drop in rental EBITDA to ARS 4,215 million amid pandemic impacts.

Cresud, a leading Argentine agricultural company, reported significant losses in its fiscal year 2021 results. The company recorded a net loss of ARS 9,231 million, compared to a profit of ARS 10,589 million in the previous year. Despite this setback, adjusted EBITDA increased by 40.5% to ARS 20,705 million. The agribusiness sector showed resilience with a 15.4% increase in adjusted EBITDA, totaling ARS 9,215 million. Furthermore, the company expanded its stake in Brasilagro and achieved a record grain production expectation of 850,000 tons.

Cresud, an Argentine agricultural firm, reported a significant net loss of ARS 3,264 million for the first semester of fiscal year 2021, contrasting with a profit of ARS 2,278 million in 2020. Notably, adjusted EBITDA rose by 10.2% year-on-year to ARS 8,894 million. The company benefitted from high commodity prices and weather conditions, planning to plant 260,000 hectares. Subsequent to this period, it sold assets in Bolivia for USD 30 million and increased its stake in Brasilagro.